Industry Leaders Share Insights on AI Transformation
At a recent EXL virtual event, industry leaders gathered to discuss the transformative power of artificial intelligence (AI) and its potential to revolutionize business processes. The event, titled "AI in Action: Driving the Shift to Scalable AI," highlighted the importance of integrating AI with strong data foundations and domain expertise to achieve real business impact.
Rohit Kapoor, chairman and CEO of EXL, emphasized that the key to leveraging AI lies in seamlessly integrating data and AI into business operations. "It's not just about implementing technology," Kapoor stated. "It's about orchestrating data, digital solutions, and human intelligence to optimize decision-making and unlock new opportunities."
The Rise of Agentic AI
Agentic AI, characterized by autonomous and self-regulating AI agents, is at the forefront of this transformation. These agents enable enterprises to automate complex workflows, enhancing efficiency and innovation. Kevin Ichhpurani from Google Cloud shared a compelling example of how EXL and Google have collaborated to improve customer service through AI-driven agents that understand consumer intent and make informed decisions.
EXL's recent launch of the agentic AI platform, EXLerate.AI, marks a significant step in this direction. This platform orchestrates AI models alongside human expertise, allowing businesses to harness AI without being bogged down by technical complexities.
AI in Practice: Real-World Applications
The event showcased several real-world applications of AI, including EXL Code Harbor, a generative AI-powered code migration tool, and EXL’s Insurance Large Language Model (LLM). The Insurance LLM, built on NVIDIA’s AI stack, is designed to improve claims adjudication and underwriting, delivering greater accuracy and cost efficiency.
John Fanelli from NVIDIA highlighted the productivity and accuracy benefits of the Insurance LLM, describing it as a prime example of agentic AI in action.
Data and AI: A Symbiotic Relationship
Panel discussions at the event underscored the evolving relationship between data and AI. Experts like Sidd Kuckreja from TruStage and Randy Huang from Prudential emphasized the importance of data quality, security, and governance in AI applications. The focus is shifting from the quantity of data to its quality and ethical use.
Preetha Sekharan from Unum’s digital incubator noted the reciprocal relationship between AI and data, where AI not only utilizes data but also accelerates its generation and transformation.
Maintaining a Competitive Edge with AI
AI is proving to be a critical tool for maintaining a competitive advantage. NRG Energy, for instance, uses AI for scenario modeling to predict customer demand and energy prices. Similarly, BNY's internal AI platform empowers employees to build AI systems while ensuring ethical and secure usage.
Dr. Ashish Atreja from UC Davis Health highlighted AI's potential to transform healthcare by enabling one-to-many care models, thus improving patient access and outcomes.
A New Era of Business Transformation
The consensus among industry leaders is clear: AI is not just a technological shift but a fundamental business transformation. Success in this new era requires integrating AI with high-quality data and deep domain expertise while rethinking business processes.
To explore how agentic AI can benefit your business, visit EXL's website.
Key Takeaways
- Agentic AI is revolutionizing business processes by automating complex workflows.
- Integrating AI with strong data foundations is crucial for achieving business impact.
- Real-world applications of AI are enhancing efficiency and innovation across industries.
- Data quality and ethical considerations are paramount in AI applications.
- AI is driving a fundamental transformation in business operations.